Eaton initiated with a Neutral at Rothschild & Co Redburn

Rothschild & Co Redburn initiated coverage of Eaton (ETN) with a Neutral rating and $336 price target The firm believes the stock’s valuation re-rating since the beginning of the decade discounts the company’s revenue and earnings growth through fiscal 2029. Eaton is being valued at a premium to its sum of the parts, the analyst tells investors in a research note.